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News & Insights

In 2018, Employees May Contribute More Money to Their Benefit Plans

The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.  In 2018 employees may contribute more money to their HSA’s, health FSA’s and 401(k) accounts. Employers should communicate these limits to employees in connection with the annual open enrollment. To read entire article, click here.

IRS Reverses Policy on Certifying Individual Mandate Compliance

For the 2017 tax year, the IRS will not accept electronically filed tax returns if the taxpayer does not certify whether the individual had health insurance for the year; and paper returns that do not certify compliance with the individual mandate may be suspended pending receipt of additional information, and any refunds due may be delayed. To Read more…

Senate Shelves Latest Attempt to Repeal and Replace ACA

Senate leadership was forced to shelve the vote on their most recent effort to repeal and replace the (ACA) on Sept. 26th due to lack of support. Given the opposition from health organizations and lawmakers, the proposed bill would need a variety of amendments before moving forward. To read entire article, click here.

New York Paid Family Leave

New York’s paid family leave law (NYPFL) requires private sector employers to provide paid benefits to eligible employees starting January 1, 2018. NYPFL will be funded by employees’ payroll deductions. Employers may contribute to funding these benefits, but they are not required to do so. To read entire article click here.

Final Forms for 2017 ACA Reporting Released

On September 28, 2017, the Internal Revenue Service released final 2017 forms for reporting under the Internal Revenue Code Sections 6055 and 6056. Employers should become familiar with the revisions to the forms, and prepare to file these final versions in early 2018. To read entire article click here.

DOL Overtime Rule Defeated For Good

The Department of Labor’s  overtime rule which would have raised the minimum salary threshold from $23,660 to $47,478 has been struck down by a federal judge who noted that the DOL overstepped by nearly doubling the salary threshold. To read entire article click here.

Benefits Insights: Caregiver Benefits

According to a Gallup roll, 1 out of 6 full- and part-time working Americans are also a caregiver for a loved one. Typically, a caregiver is an unpaid individual who assists an elderly or disabled family member, relative, or friend. It is estimated by the National Alliance for Caregiving and ARPA that 70 percent of Read more…